Can I retire at age 54 with 701,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $701,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.7%
1 years$57,888$57,372$56,869$56,378$55,899$54,592
2 years$28,657$28,124$27,606$27,105$26,618$25,309
3 years$18,915$18,379$17,863$17,366$16,888$15,617
4 years$14,045$13,511$13,000$12,511$12,045$10,822
5 years$11,124$10,592$10,088$9,610$9,156$7,985
6 years$9,177$8,650$8,153$7,685$7,245$6,127
7 years$7,787$7,264$6,775$6,318$5,892$4,827
8 years$6,745$6,226$5,746$5,300$4,888$3,876
9 years$5,934$5,421$4,949$4,515$4,116$3,156
10 years$5,287$4,779$4,315$3,892$3,507$2,598
11 years$4,757$4,254$3,798$3,387$3,016$2,157
12 years$4,316$3,818$3,371$2,971$2,614$1,803
13 years$3,943$3,451$3,012$2,623$2,279$1,515
14 years$3,624$3,136$2,706$2,328$1,998$1,279
15 years$3,347$2,865$2,443$2,076$1,759$1,083
16 years$3,106$2,629$2,215$1,859$1,555$920
17 years$2,893$2,421$2,016$1,670$1,379$784
18 years$2,703$2,237$1,840$1,505$1,226$669
19 years$2,534$2,073$1,685$1,360$1,093$572
20 years$2,382$1,927$1,546$1,232$976$490
21 years$2,245$1,795$1,422$1,118$873$421
22 years$2,121$1,675$1,311$1,017$783$361
23 years$2,007$1,567$1,210$926$703$310
24 years$1,903$1,468$1,119$844$632$267
25 years$1,807$1,378$1,037$771$568$230
26 years$1,719$1,295$961$705$512$198
27 years$1,638$1,219$893$645$462$170
28 years$1,562$1,148$830$591$417$147
29 years$1,492$1,083$772$542$376$127
30 years$1,427$1,023$719$498$340$109
31 years$1,366$967$671$457$307$94
32 years$1,309$915$626$420$278$81
33 years$1,255$867$584$386$252$70
34 years$1,205$821$546$355$228$61
35 years$1,158$779$510$327$206$52
36 years$1,113$739$477$301$187$45
37 years$1,071$702$447$278$169$39
38 years$1,032$667$418$256$154$34
39 years$994$635$392$236$139$29
40 years$958$604$367$218$126$25
41 years$925$575$345$201$115$22
42 years$892$547$323$185$104$19
43 years$862$522$303$171$94$16
44 years$833$497$285$158$86$14
45 years$805$474$267$146$78$12
46 years$779$452$251$135$71$10
47 years$754$432$236$124$64$9
48 years$729$412$222$115$58$8
49 years$706$393$208$106$53$7
50 years$684$376$196$98$48$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 54 starting with $701,000, adding $2,663 every year, while hoping to spend $30,373 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 51/41/8 Blend
53$701,000$701,000$701,000$701,000
54$775,249$738,096$727,230$813,075
55$822,008$741,946$719,276$842,975
56$872,518$744,967$710,037$871,974
57$927,130$747,085$699,439$902,781
58$986,229$748,225$687,402$935,572
59$1,050,240$748,303$673,845$970,543
60$1,119,627$747,232$658,681$1,007,912
61$1,194,903$744,920$641,821$1,047,919
62$1,276,630$741,269$623,170$1,090,831
63$1,365,430$736,174$602,629$1,136,943
64$1,461,982$729,525$580,095$1,186,582
65$1,567,036$721,204$555,461$1,240,110
66$1,681,418$711,088$528,613$1,297,928
67$1,806,036$699,043$499,434$1,360,480
68$1,941,887$684,932$467,801$1,428,257
69$2,090,071$668,606$433,584$1,501,802
70$2,251,799$649,908$396,650$1,581,719
71$2,428,402$628,673$356,857$1,668,672
72$2,621,347$604,726$314,060$1,763,397
73$2,832,247$577,880$268,104$1,866,711
74$3,062,880$547,940$218,829$1,979,513
75$3,315,203$514,698$166,068$2,102,802
76$3,591,369$477,935$109,648$2,237,678
77$3,893,753$437,417$49,384$2,385,360
78$4,224,965$392,900$0$2,547,196
79$4,587,883$344,124$0$2,725,950
80$4,985,676$290,815$0$2,926,573
81$5,421,834$232,684$0$3,146,683
82$5,900,200$169,424$0$3,388,309
83$6,425,007$100,712$0$3,653,690
84$7,000,919$26,208$0$3,945,302
85$7,633,071$0$0$4,265,874
86$8,327,122$0$0$4,642,990
87$9,089,304$0$0$5,070,185
88$9,926,481$0$0$5,539,493
89$10,846,218$0$0$6,055,163
90$11,856,846$0$0$6,621,876
91$12,967,544$0$0$7,244,790
92$14,188,424$0$0$7,929,588
93$15,530,627$0$0$8,682,528
94$17,006,427$0$0$9,510,508
95$18,629,346$0$0$10,421,127
96$20,414,283$0$0$11,422,755
97$22,377,653$0$0$12,524,618
98$24,537,542$0$0$13,736,879
99$26,913,876$0$0$15,070,734
100$29,528,612$0$0$16,538,523